FiscalNote price target lowered to $1.75 from $2 at B. Riley

B. Riley lowered the firm’s price target on FiscalNote (NOTE) to $1.75 from $2 and keeps a Buy rating on the shares. FiscalNote reported a Q3 beat and raised its FY24 adjusted EBITDA guidance modestly as the company announced a leadership succession plan that includes the appointment of new CEO, the analyst tells investors in a research note. B. Riley believes the appointment of current President and COO Josh Resnik to CEO appears to be a logical step for the company to execute its next phase of profitable growth, and the firm is encouraged by efforts to narrow the focus on core competencies, unlock operational efficiencies, and bolster the capital structure.